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David Sharp - The Thriving Artist: Saving and Investing for Performers, Artists, and the Stage & Film Industries

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David Sharp The Thriving Artist: Saving and Investing for Performers, Artists, and the Stage & Film Industries
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The old cliche about the starving artist may have a basis in reality, but it isnt set in stone!The Thriving Artistprovides valuable advice for the performing artist, whether youre an actor, dancer, lighting guru, costumer, or stagehand, on investing, saving, and building a diversified and stable financial portfolio. Written specifically for artists who have fluctuating, uncertain, and sometimes limited streams of income, this book promotes an understanding of finances and the investment world for the artist by offering clear, basic explanations of how finances work and instruction on how to participate in them as an investor. It also provides unique strategies for integrating financial awareness and planning into your life as an artist, and how that can help to provide a better sense of financial security. WithThe Thriving Artist,author David Maurice Sharp guides you with unflappable good humor through the tricky financial waters that come with following your passion.

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The Thriving Artist

First published 2015

by Focal Press

70 Blanchard Road, Suite 402, Burlington, MA 01803

and by Focal Press

2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN

Focal Press is an imprint of the Taylor & Francis Group, an informa business

2015 Taylor & Francis

The right of David Maurice Sharp to be identified as author of this work has been asserted by him in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.

All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.

Notices

Knowledge and best practice in this field are constantly changing. As new research and experience broaden our understanding, changes in research methods, professional practices, or medical treatment may become necessary.

Practitioners and researchers must always rely on their own experience and knowledge in evaluating and using any information, methods, compounds, or experiments described herein. In using such information or methods they should be mindful of their own safety and the safety of others, including parties for whom they have a professional responsibility.

Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.

Library of Congress Cataloging in Publication Data

Sharp, David Maurice.

The thriving artist : saving and investing for performers, artists, and the stage & film industries / David Maurice Sharp.

pages cm

ISBN 978-1-138-80917-8 (paperback) -- ISBN 978-1-138-88849-4 (hardback) -- ISBN 978-1-315-75019-4 (ebook) 1. Finance, Personal. 2. Artists--Finance, Personal. I. Title.

HG179.S45245 2015

332.02400247--dc23

2014042010

ISBN: 978-1-138-80917-8 (pbk)

ISBN: 978-1-138-88849-4 (hbk)

ISBN: 978-1-315-75019-4 (ebk)

Typeset in Giovanni Std by

Servis Filmsetting Ltd, Stockport, Cheshire

For all of the artists who persevere in pursuit of their craft.


Table of Contents


I met David Maurice Sharp a decade and a half ago when a friend invited me to join the Thriving Artists Investment Club. A small group of artist acquaintances had banded together to learn how to invest. David was a founding member, and as a club officer and the most knowledgeable among us, had taken charge of the education segment of our monthly meetings. A dancer, actor, and choreographer, he had also distinguished himself as an expert in the world of finance. David was not the first dancer Id encountered with a gift for frugality and an uncanny sense for the numbersthese are survival skills that can make the difference between a brief dance career and a long one.

I had only recently taken my first full-time (non-profit) job ever, after twenty years juggling acting jobs and teaching with interim gigs as a word processor and personal assistant. Most of the members of the group were freelancerswriters, filmmakers, film editors, dancers, artists. Most of us were living on slim enough means that we were just able to make ends meet month to month. Some of us were carrying credit card debt. We were getting older and having to reckon with a future we had gambled against to follow our creative muses.

Six years later my husband and I purchased a two-bedroom co-op in New Jersey. We used the little pool of stocks Id carefully initiated under Davids guidance to help fund the down payment. Its a modest place, but it has lovely light, room for all my mates equipment, a dining room table, a desk for me, windowsills for the cats, a place to grow flowersand perhaps most of all, its ours. It is the sort of enoughthats as good as the proverbial feast.

By then I had moved on to my current position as Executive and Artistic Director of HB Studio, the Greenwich Village acting school and artists haven where I had trained and taught and where I have spent many happy years. Knowing well that many of our students, struggling to afford classes and the rent on their apartments, were probably hoping their financial futures would be solved one day by a bolt of lightning, I invited David to come do a talk about financial planning. Not long after he came up with a proposal for me: he would offer a yearly series of financial planning workshops

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